Insight and inspiration in turbulent times.
In a few years, the global production of conventional oil will fall, while the global demand continues to rise. The resulting shock of this structural oil famine is inevitable, so great are the dependency of our economies on cheap oil and. related to the first, our inability to wean ourselves from this dependency in a short period of time.
For the tens of millions of American motorists patiently waiting for gas prices to come back to Earth, the news from the oil markets is not encouraging.
For the last year, government forecasters have reassured us that the unusually high oil prices we’ve seen since 2002 — around $30 a barrel — were temporary: As soon as global markets recovered from the mess in Iraq, oil prices would drop and gasoline prices would eventually follow.
IN POORER COUNTRIES, a rise in the price of bread can set off a revolution. In this country, the price of gasoline sometimes seems to have the same kind of power.
The average nationwide price of a gallon of gasoline in America reached a record high of $1.77 this month. Get ready for what might become the economy’s version of the perfect storm later this summer. The devastation could quickly spread to the UK and the rest of the world, with dire consequences for the global economy.
In this two-part analysis, Stan Goff exposes the underlying forces driving the current crisis in Haiti. The recent coup d’etat is only the latest in two centuries of violent transfers of power in that country – but today the regional balance of forces is refreshingly new.
Energy forecasts call for Saudi Arabia to almost double its output in the next decade and after. Oil executives and government officials in the United States and Saudi Arabia, however, say capacity will probably stall near current levels, potentially creating a significant gap in the global energy supply.
Doubts cast on the wisdom of the US/Iraqi administration going for maximum production from Iraqs degraded oil fields.
The Bulletin of the Atomic Scientists takes notice of the peak oil problem.
Today gas has never been more vital to the UK’s energy needs, and never more of a possible future strategic and political concern.
Saudi Arabia would like to see OPEC’s reverence price for oil remain constant at $25 a barrel, but the country’s oil minister said Wednesday it would “be a miracle” if that happens.
LONDON, Jan 20 (Reuters) – A huge explosion at the Skikda liquefied natural gas (LNG) plant in Algeria will hit the country’s gas exports to southern Europe but importers played down the impact on Tuesday saying they had plenty of alternative suppliers
NEW YORK -U.S. natural gas supply declined last year and should continue to do so in 2004, but at a slower pace, according to a report by Lehman Brothers.
